Important Functions - Unity 4 Game Development - page 601

LateUpdate()
The LateUpdate() function is called every frame after all the Update() functions
have been called, if the MonoBehaviour class is enabled.
LateUpdate() is called after all Update() functions have been called. This is useful
to order script execution. For example, follow camera should always be implemented
in LateUpdate() , because this tracks objects that may have moved inside Update() .
An example of LateUpdate() is as follows:
// JavaScript user:
// Moves the object forward 1 meter per second
function LateUpdate () {
transform.Translate(0, 0, Time.deltaTime*1);
}
// C# user:
// Moves the object forward 1 meter per second
void LateUpdate () {
transform.Translate(0f, 0f, Time.deltaTime*1f);
}